AllSquare Wealth Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,739 shares of the cell phone carrier’s stock after selling 400 shares during the quarter. Verizon Communications accounts for approximately 0.7% of AllSquare Wealth Management LLC’s holdings, making the stock its 17th largest position. AllSquare Wealth Management LLC’s holdings in Verizon Communications were worth $890,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Wealth Inc. boosted its position in Verizon Communications by 4.5% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 169 shares during the period. Albert D Mason Inc. boosted its position in Verizon Communications by 0.7% during the 3rd quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock worth $1,415,000 after acquiring an additional 170 shares during the period. SMH Capital Advisors Inc. boosted its position in Verizon Communications by 4.6% during the 3rd quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after acquiring an additional 172 shares during the period. Nadler Financial Group Inc. boosted its position in Verizon Communications by 1.2% during the 3rd quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after acquiring an additional 174 shares during the period. Finally, Advocacy Wealth Management Services LLC boosted its position in Verizon Communications by 35.8% during the 3rd quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after acquiring an additional 181 shares during the period. Institutional investors own 65.61% of the company’s stock.
A number of research analysts have issued reports on the company. Guggenheim boosted their price target on Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, September 2nd. Moffett Nathanson set a $57.00 price target on Verizon Communications and gave the stock a “hold” rating in a research report on Friday, October 25th. Nomura lowered Verizon Communications from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $65.00 in a research report on Monday, November 4th. Finally, Sanford C. Bernstein assumed coverage on Verizon Communications in a research report on Tuesday, October 15th. They set a “market perform” rating and a $63.00 price target for the company. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $62.69.
VZ opened at $59.41 on Thursday. Verizon Communications Inc. has a one year low of $52.28 and a one year high of $61.58. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. The stock’s fifty day moving average is $60.12 and its 200-day moving average is $58.05. The company has a market capitalization of $245.46 billion, a PE ratio of 12.61, a P/E/G ratio of 2.96 and a beta of 0.53.
Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. The company had revenue of $32.89 billion for the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. Verizon Communications’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 earnings per share. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 4.14%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, October 9th. Verizon Communications’s payout ratio is presently 52.23%.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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